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Americas Gold and Silver Announces 2024 Results

ByVictoria

Americas Gold and Silver Corporation (TSX: USA) (NYSE American: USAS) (“Americas” or the “Company”), a growing North American precious metals producer, reports consolidated financial and operational results for the year ended December 31, 2024.

Paul Andre Huet, Chairman and CEO, commented: “At Americas Gold and Silver we have an excellent platform from which to build substantial shareholder value. We have the people, assets, and financial strength to succeed.”

Source – The Globe and Mail

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    Panama approves plan for Copper mine

    ByVictoria
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    Panama has approved First Quantum Minerals’ maintenance plan for its closed copper mine in the country, but not a re-start of the site, a top trade official said on Friday

    Trade and Industry Minister Julio Molto said the plan included environmental safety measures that were necessary following the abrupt shut-down by government order under the prior administration in late 2023.

    “The mine is not being reopened. We’re authorizing the implementation of the care and safe management plan to ensure it is environmentally protected,” Molto told a press conference.

    He said that experts estimate that process could take three to six months, accounting for environmental measures.

    Source – Reuters

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    Gold down 1%, Silver up

    ByVictoria
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    Gold fell more than 1% on Tuesday as signals of easing U.S.-China trade tensions reduced some safe-haven demand, while investors braced for key economic data this week to gauge the Federal Reserve’s policy outlook.

    Spot gold was down 1.2% at $3,300.57 an ounce as of 9:50 a.m. ET (1350 GMT). U.S. gold futures fell 1.1% to $3,310.20.

    “There is some optimism that there will be some de-escalation of the trade war between the U.S. and China,” said David Meger, director of metals trading at High Ridge Futures.

    “We’ve seen the equity markets rebound over the course of the last several sessions. So there’s been a bit of a lesser need for safe havens like gold.”

    Spot silver rose 0.1% to $33.2 an ounce, platinum eased 0.3% to $983.26 and palladium lost 0.8% to $941.51

    Source – Reuters

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    Mitsubishi Materials considering partial shutdown

    ByVictoria
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    Japan’s Mitsubishi Materials is considering scaling back copper concentrate processing at its Onahama Smelter & Refinery as falling treatment and processing charges (TC/RCs) weigh on earnings, it said on Monday.

    Mitsubishi Materials said the worsening TC/RCs from miners were expected to further erode smelting margins.

    “To maintain and improve profitability, we need to raise the ratio of recycled raw materials and accelerate the shift to feedstock less vulnerable to TC/RC fluctuations,” the company said in a statement.

    It is now considering the possibility of a partial shutdown of production facilities and a reduction in copper concentrate processing at Onahama, after planned maintenance from October to November this year, Mitsubishi Materials said.

    Source – Reuters

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    Gold in demand, up .1%

    ByVictoria
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    Gold prices touched a three-week high on Monday, supported by demand for safe-haven bullion after U.S. President Donald Trump threatened to impose a 30% tariff on imports from the European Union and Mexico.

    Spot gold was up 0.1% at $3,359.69 per ounce, as of 0637 GMT, after hitting its highest point since June 23 earlier in the session. U.S. gold futures rose 0.3% to $3,373.30.

    “We are seeing safe-haven demand coming back into the picture due to this uncertainty on the implementation of U.S. global trade tariffs policy,” OANDA senior market analyst Kelvin Wong said.

    “Near-term outlook looks positive for gold and if gold prices are able to have a daily close above $3,360, it could potentially advance higher towards the next resistance level at $3,435.”

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    Source – Reuters

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    Kentuckians could sue Gov. Andy Beshear over a gold and silver sales tax

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    Follow up on Kentucky considers bill to entice gold and silver investors

    House Bill 2, introduced last week by Rep. T.J. Roberts, R-Burlington, and backed by several other GOP representatives, would void a controversial line-item budget veto by Beshear last year that prevented state lawmakers from exempting “bullion currency” — or gold and silver coins — from taxation.

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    Source – Louisville Courier-Journal

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    AngloGold profit surged and boosting payouts

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    AngloGold Ashanti (AU.N), is boosting payouts to investors, it said on Wednesday, after its profit surged to $954 million last year from a loss of $46 million in the prior year, buoyed by the precious metal’s rally to record highs.

    Shares in the company however fell as much as 7.4% in early trading in New York.

    CEO Alberto Calderon said the gold price rally had given AngloGold the strongest balance sheet position in more than a decade, and it is “able to pass on those benefits to shareholders in a more generous dividend policy”.

    Source – Reuters